Ssangyong Motor to Expand Exports to Middle East Market

[Asia Economy Reporter Hyunseok Yoo] SsangYong Motor announced on the 14th that it has solidified mutual cooperation to expand exports in the Middle East region, based in the United Arab Emirates (UAE).

Starting from the 13th, SsangYong Motor held a 2-day, 1-night schedule with senior executives from NEWEAST GENERAL TRADING JAFZA (NGT) to tour Assembly Line 1 at the Pyeongtaek plant and directly verify the excellent product quality and competitiveness through test drives of models such as the Torres. Additionally, a meeting was held with Chairman Kwak Jae-sun to share export strategies, product development plans, and the company’s mid-to-long-term vision, and to discuss ways to strengthen mutual cooperation.

SsangYong Motor and NGT signed an export contract in January. Starting with 7,000 units this year, they plan to expand the volume to around 10,000 units in the future.

Last year, SsangYong Motor exported 45,294 units, marking the highest performance in six years since 2016 (52,290 units). Of these, 3,819 units were exported to Middle Eastern countries including Saudi Arabia, Iraq, and Israel.

Ssangyong Motor hosted a delegation including senior executives from UAE's NEWEAST GENERAL TRADING JAFZA (hereafter NGT) during their visit to Korea. The group toured the Pyeongtaek plant production line and held a meeting with Chairman Kwak Jae-sun (right), strengthening mutual cooperation to expand exports to the Middle East region based in the UAE. Photo by Ssangyong Motor

SsangYong Motor expects export volumes to the Middle East to increase further through the UAE exports following the KD cooperation project with Saudi Arabia’s SNAM. SNAM held a groundbreaking ceremony for a local assembly plant in January last year. Starting this year, they will begin phase 1 local assembly production and plan to expand production to about 30,000 units annually through factory construction for phase 2 in the future.

Meanwhile, SsangYong Motor has accelerated its global market strategy after newly joining the KG Group family last year. Starting with the global test drive event for the Torres in November last year, they invited excellent dealers from Central Europe, including Germany and Belgium, to the Pyeongtaek plant for the first time in three years since 2019. In January, they also showcased five models including the Korando e-Motion at the Brussels Motor Show in Belgium, actively targeting the European market.

SsangYong Motor stated, “Following Saudi Arabia’s SNAM, we expect export volumes to the Middle East to increase significantly based on this UAE export. Having recorded the highest performance in six years last year, especially this year, we plan to continue the export growth trend by expanding the global launch of the Torres, entering emerging markets, and diversifying export regions to strengthen our global market strategy.”

This content was produced with the assistance of AI translation services.